Nvidia, led by CEO Jensen Huang, also reported net income of $53.95 billion, up from $24.76 billion a year earlier|Taiwan Presidential Office|CC BY 2.0
The chipmaker delivered stronger-than-expected quarterly results, fueled by continued demand for AI chips and data centers. Revenue climbed to $96.22 billion, above the $92.17 billion forecast.
The company, led by CEO Jensen Huang, forecast 70% revenue growth in 2028. However, supply shortages could limit how quickly the company meets demand.
Nvidia reassured investors yesterday that significant growth is still ahead, which helped ease AI bubble fears and pushed its stock 4.71% higher in after-hours trading.
The company also reported net income of $53.95 billion, up from $24.76 billion a year earlier.
Growing challenges
Competition from AMD and Google is increasing, while higher memory costs could pressure operations.
Nvidia also listed debt as a new risk, reporting $33.5 billion in senior notes and a $25 billion commercial paper program.
Separately, Nvidia has reportedly agreed to acquire AI platform Hugging Face for $12.9 billion, expanding its software reach.